India’s forex reserves slide to $561 billion

New Delhi, Feb 25:  India’s forex reserves fell by $5.681 billion to $561.267 billion for the week ended February 17, according to RBI data released on Friday.

This is the third week in a row when forex reserves have shown a dip.

Last week, they had fallen by $8.319 billion to $566.948 billion.

In October 2021, the country’s forex reserves had reached an all-time high of $645 billion.

The reserves have been declining as the central bank has been using them to bolster the rupee amid global headwinds.